BNPL

Buy Now Pay Later

A type of financial service offered by some retailers, fintech companies, and payment platforms, allowing customers to purchase items immediately and pay for them in installments over a set period of time. BNPL services often feature interest-free payments or low-interest rates, making them an attractive alternative to traditional credit cards for some consumers.

These services have become increasingly popular in recent years as they provide a convenient and flexible way for people to manage their expenses. However, it’s important for consumers to be aware of the terms and conditions of the BNPL service they are using, as fees, interest rates, and other charges can vary significantly between providers. Additionally, customers should be mindful of their spending habits and ensure they can afford to make the scheduled payments to avoid potential financial difficulties.

• Abbreviation: BNPL